LTC / USD Mid-term trend: Bearish
Strength levels: $ 60, $ 62, $ 64
Support Levels: $ 50, $ 48, $ 46
In August 2018, the LTC price had been bearish. The price of Litecoin had an initial balance of $ 77.53 at the beginning of the month. However, the cryptocurrency was included in the range between $ 91 and $ 74. The price had a hard time breaking the $ 74 level from the start of the year. However, in the last bearish breakout, the $ 74 level was broken and the price fell to a low of $ 69.06. The LTC price is currently at $ 55.21 but is approaching the previous $ 50 minimum.
Meanwhile, the MACD line and the signal line are below the zero line indicating a signal of sale. In addition, the price of Litecoin is lower than the 12-day EMA and the 26-day EMA which indicates that the downward trend is underway. Meanwhile, the Relative Strength Index 14 is level 35 which indicates that the market is oversold which suggests the bulls take control of the market.
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